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Appendix 4 Changes in this addition

Australian System of National Accounts: Concepts, Sources and Methods
Reference period
2020-21 financial year

A4.1    The following table outlines the changes that have been made in this edition of the Australian System of National Accounts: Concepts, Sources and Methods.

Table A4.1 Summary of changes made
ItemChange madeTable/paragraph number
Updates to sources and methods under the expenditure approachVarious updates to data sources and methods throughout the chapter, notably those related to Intellectual Property Products (IPP) data sources and methods.Table 10.38 and throughout Chapter 10
Adjustment to household final consumption expenditure – Low Value ThresholdA coverage adjustment for purchases that fall below the low value threshold of $1,000, often from international websites. The adjustment is made as part of annual HFCE benchmarks. The change has been backcast to 1998-99.Paragraph 10.43 to 10.45
Quarterly current price gross value addedDescription of the compilation of quarterly current price gross values added (GVA) by industry from the income approach.Paragraph 11.50 to 11.52
Update of subsidies by industry derivationAddition of COVID-19 related other subsidies on production to list of industry specific subsides.Tables 11.24, 11.25, paragraph 11.48
Mean asset lives and asset life distribution methodsUpdates to mean asset lives and asset life distribution methods. Chapter update includes added information on definitions of the six-way asset split for machinery and equipment.Tables 14.1, 14.3-14.5, paragraph 14.68 and throughout Chapter 14
Updates to sources and methods in the Financial accountNew sub-sectors Authorised deposit-taking institutions (ADIs) and Other broad money institutions replace previously sub-sectors banks and other depository corporations. Data sources are updated for sub-sectors, including the use of APRA Economic and Financial Statistics (EFS) collection and APRA superannuation data. Method is updated for unlisted equity in investment funds.Paragraphs 15.31, 15.36, Table 15.10 and throughout Chapter 15
Updated methods for productivity estimatesMulti-filter approach is used in estimates of productivity growth cycles for the market sector. Industry productivity growth cycles and experimental productivity estimates for states and territories are added.Paragraphs 19.63-19.64, 19.66-19.69
New analytical seriesMethods for new analytical series (e.g. Mining and non-mining private business investment) added.Throughout Chapter 20
State accountsMethods and source data changes for GSP(I) and GSP(P) sections.Throughout Chapter 21